HOW TO GET DISCOUNTS ON HOMEOWNER’S INSURANCE

If you own your home and have homeowner’s insurance on it, you can qualify for discounts on your homeowner’s insurance policy. Reduce risk, the chances of having a claim at all, and the severity of any homeowner’s insurance claim you do have. You can also save on your insurance premiums by putting some of these tips into effect.

• Install a UL-approved smoke detector on each floor. Replace the batteries yearly. Also install a carbon monoxide detector.
• Install a UL-approved dry-chemical fire extinguisher in the kitchen for grease fires. Check it periodically to make sure it’s fully charged.

• Have your fireplace, flues, and chimney cleaned regularly to prevent chimney fires (and all the horrible interior smoke damage that results).
• Install a central burglar-and-fire alarm (the premium savings are huge for this one — 10 to 20 percent).
• Install deadbolt locks on all access doors.
• Install a motion detector alarm.
• Install a sump pump system to prevent damage from groundwater, which is excluded by virtually every homeowner’s policy. (Be sure to buy optional sump pump failure coverage.)
• If you have a swimming pool, have an approved fence. Take out the diving board (where most injuries occur). Add a locking pool cover to prevent unauthorized use.

EXAMINING AUTO INSURANCE COVERAGE

If you drive, you need auto insurance coverage. But just exactly which type of coverage should you have, and which ones are you required to have? Following are the key features of auto insurance (depending on your unique circumstances, you may or may not need all these features):

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• Collision: If you’re in an automobile accident, regardless of who is at fault, collision insurance provides protection to replace or repair your vehicle, subject to a deductible.
• Comprehensive: In the event of hail damage or a tree limb falling on your car (risks not involving an automobile collision), this coverage insures you. Comprehensive coverage pays to repair your vehicle, subject to a separate deductible.
• Personal injury protection: This type of insurance coverage is for medical and other expenses resulting from an automobile accident for the people specified in the policy, regardless of who is at fault in the accident.
• Medical payments: This feature provides a limited amount of coverage for you and your passengers’ medical expenses as a result of an accident. The coverage pays regardless of who is at fault.
• Bodily injury and property damage liability coverage: The insurer agrees to pay damages if you injure someone or his property in an auto accident.
• Uninsured and underinsured motorists liability coverage: If you’re in an accident with another driver who doesn’t carry any or enough liability coverage, uninsured or underinsured motorists liability coverage allows you to collect damages that you personally experience from the accident.

Find cheaper car insurance and cut the cost of driving

With daily car journeys a necessity for many families, it’s likely there are few of us who could seriously consider life without our own motor. But when your car insurance renewal quote arrives on your doormat, you could be forgiven for thinking again… Perhaps even for hunting out your local bus timetable.

Auto insurance can be a major cost for motorists who already face high fuel prices, paying for regular MOTs and services and of course covering the cost of the vehicle they drive each day. 

If you’re looking to find cheaper cover, try these tips for lowering your car insurance costs.

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1. Compare car insurance online

Shopping around for auto insurance is often a simple but effective way to reduce the price you pay for cover. Insurance companies rarely offer their very best deals to existing customers, instead reserving their cheapest possible prices for new customers. Compare cheap car insurance quotes to see how much you can save by switching insurers. Just remember to make sure you are comparing like for like cover, with voluntary excesses set at the same level and including any extras that you’d usually add on.

2. Increase your excess

Opting for a higher voluntary excess when setting up your car insurance cover is another way to reduce your premium. As a general rule of thumb, the higher your excess, the lower your premium - so experiment using our car insurance comparison tool to see how much difference an increased excess could make to your annual auto insurance costs. Remember, though, that you must be able to afford your voluntary excess. If you need to make an insurance claim, you’ll be required to stump it up before your insurer will pay out.

3. Go no-frills

Think carefully before adding extras, such as legal expenses cover, windscreen cover or use of a courtesy car to your car insurance package. While insurance companies are often enthusiastic about their value and they might come in handy, they are not strictly necessary - and including too many add-ons could significantly bump up the price of your policy.

4. Think about the distance you drive

Before buying car insurance, think carefully about how far you really drive in your vehicle each year. If it’s possible for you to agree to a lower annual mileage cap than you did last time you bought insurance, it’s possible you’ll save money. This is an especially helpful tip for two car families, where one vehicle is likely to do more miles in a year than the other - but where this sometimes isn’t obvious until both cars’ odometers are checked.

5. Don’t pay by direct debit

While spreading the cost of your auto insurance might feel less painful than paying for your premium in one go, it will probably cost you more in the long run. Many insurance companies charge interest when customers opt to pay for their insurance monthly, so check before you sign on the dotted line. If your insurer’s policy is to charge interest but you would like to spread the cost of your cover for free, you could consider using a 0% purchase credit card to pay for it - just be sure to clear your balance in full before the 0% period ends.

6. Other ways to cut the cost of motoring 

Pump prices might have fallen, but it still costs well north of £50 for a tankful of petrol or diesel in a typical family car.

You can reduce consumption in a number of ways. For example, if your tyres are under-inflated, you’ll use more fuel, especially on lengthy journeys.

Manufacturers recommend checking and correcting the pressure every couple of weeks. If that sounds unrealistic, aim for at least once a month, and always before you go on a long trip.

A quick win on fuel consumption is to remove excess weight. So take a look in the boot and footwells to see if you’re carrying around burdens that are burning a hole in your wallet.

You can also save fuel by driving more smoothly – don’t accelerate or brake harshly, and don’t linger in a low gear longer than is necessary. And if you’re going to be stationary for any length of time – waiting at the school gates, maybe – turn of your engine rather than let it idle.

Fuel costs also vary between forecourts, so it can make sense to shop around to find the lowest priced fuel.

But driving further for cheaper fuel means you could end up spending more to get there than you save at the pump.

Our handy Fuel Cost Calculator will help you work out if your search for cheaper fuel is actually costing you more.

7. Consider car-share

A more radical way to save money is to car-share – either as a permanent arrangement with someone whose schedule fits nicely with yours, or on specific journeys, such as the commute to work or the school run.

How to get the cheapest car insurance: Ten tips for cheaper car cover

The mistake most drivers make is failing to shop around for the best premium and simply accepting an insurer's renewal quote, which is likely to be much higher.

Thanks to recent reforms to compensation payouts, motorists face a 10 per cent - around £50 - hike in their car insurance premiums.

Piling on more pain, from June, bill payers will also see an extra £10 added to bills thanks to a rise in insurance premium tax to 12 per cent. 

1. Shop around for the best deals
Savings of hundreds of pounds can be found if you shop around when you renew your cover.
Be careful though. When shopping around for car insurance, it's important to make sure that you are comparing like-for-like cover. Some policies may seem cheaper, but you may find you don't have the same level of cover when you have to make a claim.
Use an online comparison service to do the hard work for you. Put in your details and check the prices that come up. You can alter the excess that you are willing to pay and the mileage you will drive and get new quotes.
Also check the insurers that don't feature in comparison sites, the big two are Direct Line and Aviva. This is Money's car insurance search is powered by MoneySupermarket and will search more than 130 insurers for you. Try it out here.
Also check the insurers that don't feature in comparison sites, the big two are Direct Line and Aviva. It is also worth checking Admiral separately for its Multicar offers if you are looking to insure more than one vehicle.
If you've been happy with the cover your existing provider has given until now but are unhappy with their renewal quote, let them know the best offer you have received from a rival insurer and ask them to at least match it.

2. Don't put everyone on your policy
Ensure that only regular drivers are named on the policy. You can always add someone for a few days when they really need to drive the car.

3. Protect that no-claims bonus
A long no-claims bonus is the single best way of cutting car insurance costs, so protect it.
This may increase the premium by a few pounds, but this fades into insignificance against the potential loss of a 90 per cent discount on a premium of several hundred pounds.
But the definition of a protected no-claims bonus can vary widely between insurers.
Though accidents caused by another driver will normally have no impact on such a bonus, those caused by the insured could. The key is to always check the policy carefully.

Insurance Tips: 10 Steps to Buying Car Insurance

Online Insurance Shopper Picture

You can do a lot of your insurance research online, using insurance quote sites and specific company Web sites to build a list of comparative quotes. 

Car Fire Picture

Comprehensive coverage addresses damage that doesn't occur in a collision — such as from fire, theft or flood.

Car Accident Picture

Price shouldn't be the only consideration when you're buying car insurance. You also want to know how you'll be treated if you have to file a claim. | September 26, 2011 | iStockphoto